Mid-Market: S&P/ASX 200 Trading Lower By 0.05%; Imugene Limited Is Declining By More Than 10%

On 18 August 2023, at AEST 11:05 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 3.50 points or 0.05%, and is currently trading at 7,142.40 levels. Out of 11 sectors, 8 sectors are trading lower along with the S&P/ASX 200.

The Materials and Utilities sectors are the top 2 gaining sectors, gaining 1.13% and 0.79% in their index values. On the other hand, the Consumer Discretionary and Information Technology sectors are the top 2 losing sectors, declining 1.53% and 1.41% in their index values.

Magellan Financial Group Limited (ASX: MFG) and Abacus Group (ASX: ABG) are the top-gaining stocks, gaining 13.043% and 7.407% in their stock prices. On the other hand, Imugene Limited (ASX: IMU) and Super Retail Group Limited (ASX: SUL) are the top-losing stocks and are declining by 13.298% and 6.414% in their stock prices.

Factors influencing the market-

• Imugene Limited was the worst-performing stock, down more than 10% following completing a $35 million share placement and launching a $30 million share purchase plan.
• Magellan Financial Group Limited’s shares performed best at the opening as the fund manager will pay a final dividend of 39.8¢. They declared a special dividend of 30¢ to take full-year dividends to $1.167.
• Oil is headed for its first weekly loss since June as concerns over economic weakness in China and potentially even tighter monetary policy in the US combined to overshadow signs of a tighter physical market.
• Dow has closed down by 0.84%, S&P 500 down by 0.77%, and NASDAQ ended lower by 1.17%.
• Hang Seng is down by 0.01%, and FTSE 100 is down by 0.63%.

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